Investor Presentation

Expiration of the Offer 7 December 2023 The Exchange Offer CADELER > ENETI Key dates Cadeler is offering for each outstanding share of Eneti Common Stock validly tendered and not validly withdrawn in the Exchange Offer 0.85225 Cadeler ADSs, each one (1) ADS representing four (4) Cadeler Shares (implying an exchange ratio of 3.409 Cadeler Shares for each Eneti Common Stock)¹ • The Exchange Offer is scheduled to expire at 4:30 p.m., Eastern Time, on 7 December 2023 • • • To validly tender shares held in "street name" Eneti Stockholders must instruct their nominee to tender through book-entry transfer through DTC To validly tender shares held of record, Eneti Stockholders must deliver a letter of transmittal enclosed in the F- 4 to JPMorgan Chase Bank, N.A., the Depositary and Exchange Agent for the Offer and the Merger For a complete overview of the procedures for tendering your shares of Eneti Common Stock, please see the F-4 filing section "The Offer - Procedures for Tendering Eneti Common Stock" You may direct any questions related to the Cadeler ADS facility to the Information Agent at D.F. King & Co., Inc., 48 Wall Street, 22nd floor, New York, NY 10005; (800) 967-4607 (Toll Free); (212) 269-5550 (call collect); Email: [email protected] Event Commencement of the Offer; Publication of summary advertisement of Offer Expiration Date (deadline for tendering shares of Eneti Common Stock into the Offer)² Announcement by Cadeler on whether or not the conditions to the Offer have been satisfied or, to the extent legally permitted, waived Commencement of trading of Cadeler ADSS on the New York Stock Exchange on a "when issued" basis Expected date for approval of an EU/EEA Listing Prospectus for the new Cadeler Shares Expected settlement date Admission to trading of the new Cadeler Shares on the Oslo Stock Exchange Calendar date November 7, 2023 December 7, 2023 at 4:30 p.m. ET On or prior to December 8, 2023 On or about December 8, 2023 On or about December 11, 2023 On or about December 12, 2023 On or about December 12, 2023 1) Subject to payment of cash compensation in lieu of any fractional Cadeler ADSS without interest and subject to reduction for any applicable withholding taxes in accordance with the terms of the Offer 2) Assuming no extension or termination of the Offer

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